Alcoa Corporation reported record quarterly revenue of $4 billion in Q2 2026, marking a 24% sequential increase, driven by higher aluminium prices, strong operational performance, and progress on key smelter restart projects.

Adjusted net income reached $562 million, while adjusted EBITDA increased to $901 million. Aluminium production rose 5% quarter-on-quarter to 636,000 tonnes, supported by the successful restart of the San Ciprián smelter in Spain, which resumed operations on 7 April 2026. Growth was also supported by capacity restarts at Lista, Norway, and Portland, Australia, alongside progress at the Alumar smelter in Brazil.

Aluminium shipments increased 18%, while third-party aluminium revenue grew 31% due to higher volumes, increased value-added product sales, and improved realised prices.

Meanwhile, alumina production declined 6% to 2.2 million tonnes, mainly due to lower output at the Pinjarra refinery in Australia following operational disruptions and gas supply challenges. Despite this, Alcoa continues to strengthen its production footprint and capture opportunities in the global aluminium market.